10 Best Dividend Growth Stocks to Buy and Hold in 2024

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9. Lowe’s Companies, Inc. (NYSE:LOW)

3-Year Average Annual Dividend Growth Rate: 24.10%

Lowe’s Companies, Inc. (NYSE:LOW) is next on our list of the best dividend growth stocks to buy and hold in 2024. The American home improvement and retail company is a Dividend King with 59 consecutive years of dividend growth under its belt. Moreover, in the past three years, the company raised its payouts at an annual average rate of 24.10%. It currently offers a quarterly dividend of $1.10 per share and has a dividend yield of 2.08%, as of January 27.

As per Insider Monkey’s database of Q3 2023, 63 hedge funds in Insider Monkey’s database reported having stakes in Lowe’s Companies, Inc. (NYSE:LOW), down slightly from 64 in the previous quarter. The overall value of these stakes is over $3.15 billion.

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